The cancer treatment developer spun out from UCL has secured $80m in series C capital from investors including Woodford Investment Management and Syncona.

Autolus, a UK-based biopharmaceutical spinout from University College London (UCL), raised $80m in a series C round yesterday that included investment firm Woodford Investment Management.

Syncona, backed by medical charities Wellcome Trust and Cancer Research UK, also participated in the round, as did Arix Bioscience, Cormorant Asset Management, Nextech Invest and a range of unnamed investors.

Founded in 2014, Autolus was spun out from UCL to develop and commercialise immunotherapies, a kind of cancer treatment that exploits engineered T-cells, a natural part of the body’s own immune system. Autolus’ approach relies on advanced cell programming technology pioneered by Martin Pule.

The spinout has developed programs targeting haematological malignancies and solid tumours.

The money will enable Autolus to create clinical proof of concept for three haematological candidates – Auto2 in multiple myeloma, which has completed a first-dose cohort of a phase 1/2 study, Auto3, which has entered phase 1/2 studies in diffuse large B cell lymphoma and paediatric acute lymphoblastic leukaemia, and Auto4, which targets T-cell lymphoma and ready to enter clinical trials.

Autolus previously obtained £40m in a series B round in March 2016 from Woodford and Arix (then known as Perceptive Bioscience Investments). Syncona had earlier backed a £30m series A round in early 2015.

Christian Itin, chairman and CEO of Autolus, said: “We welcome our new shareholders and the continued support of our existing investors, and are looking forward to delivering on the exciting promise of our growing pipeline of engineered T-cell product candidates.

“Since our inception three years ago, Autolus has made substantial progress with two dual targeting programs in three clinical studies, a novel program for T-cell lymphoma’s clinic ready and a unique suite of cell programming technologies established for use in haematological and solid cancers.

“With the new financing we are well on our way to building a premier fully integrated oncology company that harnesses the unique power of T cells to combat cancer.”